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Nacchio Heads to the Big House

With all his efforts to avoid serving a prison sentence exhausted, former Qwest Communications International Inc. (NYSE: Q) CEO Joseph Nacchio is scheduled to begin serving a six-year term in a Pennsylvania prison Tuesday.

Convicted on insider stock trading charges by a Denver jury nearly two years ago, Nacchio sought to stay out of prison through a series of legal moves that included a retrial. However, his latest plan to appeal his case to the U.S. Supreme Court failed to delay the start of his sentence when U.S. District Judge Marcia Krieger ruled Nacchio's petition to the high court wasn't likely to "result in a reversal of his conviction, a new trial, or abrogation of his sentence."

Read the rest of the story at InformationWeek.

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